The four major energy giants will share 40% equity in the Ruwais LNG project owned by ADNOC, and fuel production in the UAE will double and soar.
According to insider sources, ADNOC has decided to distribute 40% of its shares in the Ruwais LNG project to the world's four major energy giants.
Global commodity inventory is in a state of emergency: inventory days of available commodities outside of China experienced the largest month-on-month decline in 31 months.
JPMorgan said that the main reason for this decline was due to the decrease in crude oil and refined product inventories. The global available days of oil and refined products in June decreased sharply by 2.5 days, the largest monthly decline in four years.
Crude oil product analysis at noon: Brent crude oil futures prices fell, with limited impact from the storm.
Hurricane Beryl is expected to make landfall in Texas, but the projected path suggests it may not have a significant impact on the oil refining and export industry in the Corpus Christi area. Chevron has begun sending non-essential personnel back to offshore facilities.
The driving force behind oil prices? Tropical storms hit Texas and oil ports are closed.
Tropical storm 'Beryl' advances into Texas, and some of the largest oil export hubs in the United States are closed.
What the U.K. Election Means for Oil Stocks and Other Sectors -- Barrons.com
By Brian Swint U.K. voters gave the biggest election victory to the Labour Party since former Prime Minister Tony Blair's landslide win in 1997. If history is anything to go by, that could be a boon
Shell, BP and TotalEnergies to Take Stakes in Adnoc's Ruwais LNG Plant - Bloomberg
Sector Update: Energy
Energy stocks were edging higher premarket Friday with the Energy Select Sector SPDR Fund (XLE) recently advancing by 0.1%. The United States Oil Fund (USO) was up 1.1% and the United States Natural G
Shell Takes $2 Billion Hit Amid Green Energy Setback. It Fears Competition From U.S. -- Barrons.com
By Brian Swint President Joe Biden's Inflation Reduction Act (IRA) was designed to kick-start green energy production in the U.S., but one side effect has been that it's hurting production elsewhere.
Exchange-Traded Funds Edge Higher, Equity Futures Mixed Pre-Bell Friday as Investors Await Hints About Potential Rate Cuts
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.04% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Friday's premarket activity, as investors wait for th
WTI Moves Below $83.50 Amid Expectations of Increased Supply, US NFP Awaited
West Texas Intermediate (WTI) Oil price trades around $83.50 per barrel at the time of writing.
Four international giants including Shell (SHEL.US) and Total (TTE.US) will invest in ADNOC's liquefied natural gas project.
According to insiders, four international companies have agreed to invest in the next liquefied natural gas export project of Abu Dhabi National Oil Company (ADNOC) in the United Arab Emirates.
Shell (SHEL.US) is expected to write off nearly $2 billion in Q2, and natural gas sales are expected to be the same as last year.
The impairment related to the suspension of work at the Dutch and Singapore factories has emerged; after achieving outstanding performance in the previous quarters, henry hub natural gas trade business may experience a slight decline.
U.S. Oil Growth Is Slowing. What's Next for Prices. -- Barrons.com
Growing U.S. oil production has played an enormous role in the energy market since the pandemic.
Midday Crude Oil Analysis: Brent Crude Oil futures prices have fallen, and hurricane intensity has weakened.
Hurricane Beryl has weakened to a Category 2 hurricane with maximum sustained winds of 110 miles per hour. The storm is expected to reach the Yucatan Peninsula in Mexico on July 5th, bringing heavy rain, hurricane force winds, and storm surges.
Facing Non-Farm Payrolls: the first heavy data of trade in the second half of the year!
Why does the Non-Farm Payroll data tonight once again affect the nerves of global financial markets and traders?
Market concerns are being triggered by the poor implementation of production cuts. OPEC+ urges member countries to make up for quota cheating.
In the effort to support the global oil market, OPEC+ is pushing member countries to make up for cheating on supply quotas. However, there is little indication that they are changing.
BP CEO Halts Offshore Wind Projects, Enacts Hiring Freeze
BP plc’s (BP Quick QuoteBP - Free Report) new CEO Murray Auchincloss has announced a hiring freeze and paused new offshore wind projects, signaling a shift in focus toward oil and gas.
Saudi Arabia's non-oil PMI index in June hit a new two-year low, while the UAE hit a new 16-month low.
1. In Saudi Arabia, the non-oil private sector PMI index fell to 55.0 in June, the lowest level since January 2022; 2. In the UAE, the growth of non-oil private sector has slowed to a 16-month low.
BP (LON:BP.) Might Have The Makings Of A Multi-Bagger
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET. 0112 GMT - AGL Energy should continue to benefit from higher pow